Doing your business’ VAT returns can be confusing as well as stressful. At Amanah, our dedicated team of accountants help with the business’s paper work in in order to ensure the smooth running of a business. Every business has an end of year turnover, and if that turnover exceeds the registered threshold then it’s compulsory to register your business.
- Standard or Accrual Scheme - which is the amount of VAT you owe or reclaim is based on the date of invoices.
- The Cash Accounting Scheme - which is when VAT is deemed to be owed at the end of the quarter in which you were actually paid for the invoice.
- Flat Rate Scheme (FRS) – this is when you get given a flat-percentage rate dependent on the industry you are in.
- VAT accounting advice
- Reconciliation of VAT accounts
- Production and filing of VAT returns
- Management of VAT inspector visits